KFin Technologies Limited has informed the Exchange regarding Postal Ballot notice dated May 08, 2025
KFINTECH · price
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KFin Technologies has sent a postal ballot notice to shareholders seeking approval to formally appoint Mr. Shankar Iyer (DIN: 02134073) as an Independent Director of the company for a 5-year term from April 28, 2025 to April 27, 2030. He was already brought on board as an Additional Director on April 28, 2025, and this vote converts that into a full Independent Director position via a special resolution. The proposed remuneration is up to Rs. 45 lakh per annum, payable as commission, which may exceed the standard 5% of net profits cap if profits are inadequate. Mr. Iyer has over 40 years of experience in global capital markets and asset management, and was previously the CEO of Intertrust Group (listed on Euronext Amsterdam). Shareholders can vote electronically via NSDL from May 9, 2025 to June 7, 2025, with results expected by June 10, 2025.
This is a routine corporate governance action with no material financial impact on shareholders or the stock. The Rs. 45 lakh per annum remuneration is modest relative to KFin's FY25 profit after tax of Rs. 3,255 million (around 0.14% of PAT). Shareholders should cast their vote through NSDL e-voting before June 7, 2025.